Zoom has now terminated its President Greg Tomb, laid off 1300 employees last month
Another big decision of the video communication platform: Zoom has now terminated its President Greg Tomb, laid off 1300 employees last month
Video communication platform Zoom has fired its President Greg Tombs. Greg Tomb was made the company's president by Zoom only 10 months ago. Zoom informed Greg in a filing to the Securities and Exchange Commission about terminating him from the company.
According to this filing by Zoom's Chief Operating Officer Aparna Bawa, former Google employee Greg Tombs has been terminated without cause. However, Greg will be paid severance benefits in accordance with his employment arrangements. 'Termination without cause' is a legal term that refers to that situation. Where an employee is terminated without any specific reason and is not related to the performance and behaviour of the employee.
This means that the employer has decided to terminate the employee for reasons other than performance, conduct or other faults. In such cases, the employee may be entitled to receive certain severance benefits in accordance with his employment contract or applicable laws.
When Greg Tombs joined Zoom in June 2022, the company said in an SEC filing that Greg would be given an annual base salary of $400,000, or Rs 3.26 crore, with an annual bonus of 8%. The employment agreement also included a $45 million stock grant that would vest over four years.
It is not yet clear who will replace Tombs as president of Zoom. A spokesperson for the company has said that they have no plans to find a replacement. Tombs joined Zoom in August 2019 as the company's Chief Revenue Officer.
Tombs was promoted to the position of President just 8 months ago. Tomb's LinkedIn profile shows that he was previously president of the software firm SAP and computer programming provider Vivido Labs. He was also a member of the board of tech company Pure Storage.
Before terminating Tomb, Zoom announced in early February that it would lay off about 1,300 employees, which is 15% of the company's total workforce. Zoom CEO and founder Eric Yuan have taken responsibility for the mistakes and actions that led to the layoffs.
